I wouldn’t do it. But it’s close to the Market Overview. But I have been seeing a few of these kind of sales lately.
As HLS said, I think there is a little pressure on some buyers b/c they want the 8k incentive before it runs out and many people qualify under 500k, particular FHA, and b/c media is somewhat painting a better picture of things being bottom. Many are falling under that mentality that they are going to get priced out again.
All the money the government has spent has succeeded at least for now to stablize prices somewhat, rather than a freefall.
Now last night I just went through a list of NODs in over 10 ZIPs. There doesn’t seem to be much let-up. My question: What’s going to happen to all the NODs? Will they ALL get modified? Will the banks let them squat for years until we get back to peak? Will the government give more money so as to absorb the losses so banks can foreclose?
Mish – Wave of foreclosure seems to suggest really 5 states are the worst performing re markets. How long can the rest of the country shell out money for 5 states?
